New Electronic Delivery Method for ERISA-Required Notices
On May 27, 2020, the U.S. Department of Labor published a final rule that would give retirement plan administrators a new electronic option for delivering certain ERISA-required notices to plan participants and beneficiaries. The new rule, which goes into effect July 27, 2020, is designed to reduce costs and the regulatory burdens imposed on plan sponsors while also improving the speed and efficiency in which notices are delivered. It is particularly welcome news for employers now that an increasing number of employees are working remotely.
During this complimentary webinar, McAfee & Taft employee benefits attorneys Brandon Long and Lake Moore review the key features and benefits of this new electronic delivery method as well as the specific requirements that must be met by plan sponsors in order to take advantage of this option. Topics include:
- How this rule differs significantly from the current (2002) rule governing e-delivery
- Types of documents and notices that can be delivered electronically
- Which individuals are covered by the rule
- General technical and technological requirements for plan sponsors
- Requirements for providing notices on websites and intranets
- Procedures for allowing participants and beneficiaries to opt out of e-delivery
This webinar is now available for on-demand viewing. Register below to receive immediate access.